“Held a review meeting with officials from the Department of Commerce… discussed measures to increase and diversify exports, reduce import reliance and boost domestic manufacturing,” the minister said in a tweet.
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WorldIndiaConfirmed276,583Deaths7,745Confirmed7,242,235Deaths411,269NEW DELHI: Commerce and Industry Minister Piyush Goyal on Wednesday held a review meeting with senior officials of the ministry and discussed measures to increase exports, reduce import reliance and boost domestic manufacturing. He also discussed the future course of action in the post-coronavirus era to make India an industrial powerhouse with the officials of the Department for Promotion of Industry and Internal Trade (DPIIT).
“Held a review meeting with officials from the Department of Commerce… discussed measures to increase and diversify exports, reduce import reliance and boost domestic manufacturing,” the minister said in a tweet.
The performance of the country’s exports is expected to be better in May and June as compared to the steep fall recorded in April, when the shipments contracted to an all-time high of 60.28 per cent, Goyal has said earlier.
Contracting for the second straight month, India’s exports shrank by a record 60.28 per cent in April to USD 10.36 billion, mainly on account of the coronavirus lockdown. Imports also plunged by 58.65 per cent to USD 17.12 billion in April, leaving a trade deficit of USD 6.76 billion as against USD 15.33 billion in April 2019.
The ministry has identified 12 sectors, including auto components, textiles, industrial machinery and furniture, where focus would be given with a view to make India a self-reliant country and a global supplier.
The sectors include food processing, organic farming, iron, aluminium and copper, agro chemicals, electronics, industrial machinery, furniture, leather and shoes, auto parts, textiles, and coveralls, masks, sanitisers and ventilators. RR HRS
Source: indiatimes.com